Mission Statement

The State Bank of Industry, its management, Board of Directors, and staff are committed to work together to increase its Customer base, and to provide complete financial and financial related services to the area of McDonough and surrounding counties. We will operate a sound institution with adequate earnings to support a reasonable return to its shareholders while providing a sufficient long-term growth of Capital. We will remain committed to supporting improvements in the financial and cultural qualities of life in our Community.

History of State Bank of Industry

Bank of Industry was organized on February 2, 1901 by Albert Eads, T. D. Sullivan, and B.F. McLean with $25,000 capital stock. On March 25, 1901, the state of Illinois authorized Bank of Industry to commence business as a banking association. On July 25, 1912, a special stockholders’ meeting was held and the bank’s name was changed to State Bank of Industry.

The first officers of the bank were Albert Eads, president; J.W. Bailey, vice president; T.D. Sullivan, cashier. Eads served as president until his death in 1922, at which time J.W. Bailey was elected president. Bailey was succeeded in 1953 by James C. Bailey, who served for 2 years. Other past presidents that have contributed significantly to the growth of State Bank of Industry include Ernest Price, L.B. Sullivan, H.D. Ewing, Wayne Tatham, Max Swearingen, Marlin France and R Wayne Slaughter.

State Bank of Industry has grown steadily over its 100 plus years. State Bank of Industry has been a leader over the past several years in return on assets. In 1999, the bank received an overall rating of fourth out of all banks in the State of Illinois in a ranking based on size, net interest, efficiency, and income.

In an era of mega-banks, State Bank of Industry is proud to be a community bank that is small enough to know its customers on a first-name basis, as well as understand and meet their needs. State Bank of Industry considers it a privilege to have served this community for the past 100 plus years and pledges the same quality service to its customers in the future. Thank you to all of our loyal customers and friends for your support throughout the years!